rpm,Even though the markets are currently in a very unfriendly...

rpm,

Even though the markets are currently in a very unfriendly state and most people are seeing more red days than green, this isn't in itself a reason to throw the baby out with the bathwater.

I read your comments and the central premise appears to be that if Biotron haven't announced a formal offer by now then they have no chance of getting one. This seems to be based on a series of assumptions for which you have provided no supporting evidence.

Firstly, we know they are in ongoing discussions with certain companies about potential partnering. Company announcements state this quite clearly. We don't know how many companies or if this number has dwindled over time, or in fact if the number of parties has grown. Your inferrence that there are no parties interested at all is however completely at odds with what the company has indicated.

Secondly, you infer that "interested" and "uninterested" are binary states and any given company can only be one or the other. In reality the value of compounds like BIT225 to each major pharma company will vary constantly according to a number of factors including but not limited to:

a) What Biotron are able to prove about BIT225 from trials that the company conducts.
b) Issues that emerge in other companies own drug trials
c) What competitors are doing to secure market position

Certainly opportunities for Biotron exist but as with all such things they need multiple stars to align to maximise their chances, and more importantly the price other are willing to pay.

Thirdly, you seem to be of the opinion that if a company isn't taken over by the start of Phase 2 trials then its game over. As has been repeatedly discussed this notion that big parma jump on drugs at the end of phase I or early phase II is at odds with the real world experience for the majority of such acquisitions.

BIT still has work to do and the current and future trials are designed to position it such as to maximise its potential value. There are no guarantees of success and as discussed above the value of BIT to other companies varies on a constant basis. Its a matter of being in the right position at the right time.

On the other hand it seems to make no sense having a great idea, setting off to develop it, then just giving up three quarters of the way there. Why start at all if not willing to at least put the effort into getting it to the place its most likely to be of value ? This appears to be what you think BIT should do.

BIT may or may not raise further funds in future years. Companies like this don't get products to market with spare change found in the back of the couch or from charitable donations. It takes a long time and a lot of money and we all know this. Anybody who is scared of the potential for future capital raisings should avoid about 80% of the companies ont he ASX. No point raising this as a reason for fear as thats just a little silly.

You refer to discussions of a possible takeover as "pipe dreams" but the reality is BIT is dirt cheap and may soon be adding a lot of additional value with its HIV trial results. Your analysis seem to have forgotten all about the actual business BIT is in and the trials it is conducting. Do trial results simply not matter ? Do we judge everything without even knowning the trial results. If so, why even bother with trials ?

BIT is approaching multiple hot spots in the market and could easily be seen as a cheap punt by one of many cashed up admirers. Such talk always seems pie in the sky until their interest is finally disclosed. That said companies interested in acuisitions usually do their best to keep their interest under wraps until they are ready to take a chomp. Maybe the HIV trial results will attact some additional interest or maybe they won't. Maybe future planned trials will. The fact is unless you have inside information you don't know the answer to this any more than anybody else does yet you suggest abandoning all hope before we even know what the latest trial has achieved.

My feeling is that the only "pipe dream" herein is the assertion that small spec companies should get products to market without needing any money and should be acquired before they have proven the value of their idea. Each to their own but I'll be sticking to my current bet that hard work and persisance increases the chances of a material gain.

Good for you for selling and I hope you made a profit. Your reasoning doesn't make one bit of sense to me. Not that it matters as your decision to sell is no more relevant to me than my decision to keep holding does to you. I think most shareholders have a much longer term view of this, as well they should given the nature of the company. Personally I'm only up 50% on this but I didn't get into this for a small short term gain. If Biotron comes up trumps as I believe it might then shareholders won't be the only people having their lives changed by the work done by companies like this.